Asked by: Lord McNicol of West Kilbride (Labour - Life peer)
Question to the HM Treasury:
To ask Her Majesty's Government how many times the Financial Conduct Authority (FCA) has requested a firm to outline how it calculates its APR in the last six years, other than at the point granting authorisation; in any cases of representative APR breaches discovered, how many times the FCA has required changes to the firm’s website and product literature; and how many firms have been referred to the enforcement department for resolution.
Answered by Lord Agnew of Oulton
This question has been passed on to the Financial Conduct Authority (FCA). The FCA will reply directly to the noble Lord by letter. A copy of the letter will be placed in the Library of the House.
Asked by: Lord McNicol of West Kilbride (Labour - Life peer)
Question to the HM Treasury:
To ask Her Majesty's Government why the Financial Conduct Authority has decided not to make independent periodic checks on the compliance of Financial Conduct Authority regulations by authorised firms, particularly the accuracy of key consumer protection information such as representative APR.
Answered by Lord Agnew of Oulton
This question has been passed on to the Financial Conduct Authority (FCA). The FCA will reply directly to the noble Lord by letter. A copy of the letter will be placed in the Library of the House.
Asked by: Lord McNicol of West Kilbride (Labour - Life peer)
Question to the HM Treasury:
To ask Her Majesty's Government how many skilled persons reports under the Financial Services and Markets Act 2000 section 166 the Financial Conduct Authority has commissioned where the issue of representative APR has been the matter concerned, in each of the last six years.
Answered by Lord Agnew of Oulton
This question has been passed on to the Financial Conduct Authority (FCA). The FCA will reply directly to the noble Lord by letter. A copy of the letter will be placed in the Library of the House.